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Refer to the Accompanying Table for a Certain Product's Market

Question 103

Multiple Choice

  Refer to the accompanying table for a certain product's market in Econland. If the world price of the product were $6 and a tariff of $1 per unit were applied to imports of the product, then the total revenue (after tariff) going to domestic producers would be A) $11,200, and the total revenue (after tariff) going to foreign producers would be $2,800. B) $11,200, and the total revenue (after tariff) going to foreign producers would be $2,400. C) $8,400, and the total revenue (after tariff) going to foreign producers would be $2,800. D) $13,200, and the total revenue (after tariff) going to foreign producers would be $2,400. Refer to the accompanying table for a certain product's market in Econland. If the world price of the product were $6 and a tariff of $1 per unit were applied to imports of the product, then the total revenue (after tariff) going to domestic producers would be


A) $11,200, and the total revenue (after tariff) going to foreign producers would be $2,800.
B) $11,200, and the total revenue (after tariff) going to foreign producers would be $2,400.
C) $8,400, and the total revenue (after tariff) going to foreign producers would be $2,800.
D) $13,200, and the total revenue (after tariff) going to foreign producers would be $2,400.

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